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Dec 11, 2012
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wile we focus on the fiscal cliff negotiations, or more appropately the iasse many our state governments aren't in much better shape. state pensionsystems, unfunded liabilities are now estimated to be in the range of $2.5 trillion to almt $4 trillion. leading is california witmore than $370 billion in unfunded pension liabilities, only 47% are currently fued. a pension debt per household in california of aost $30,000. illinois close behind, $167 billion in unfundedliabilities, 28% funded, and th state pension debt per household amounting to over $34,000. in municipal bonds illinois sold over $5illin bonds this year making it the third biggest debt issuer in the first tee arters this year. california and new york, numbers e and two with. the issue of unfunded pension liabilities with the passage of right-to-work laws is a subject that i'm going to be taking up with our next guest. -@mallory fctor, author of can the bestseller, "shadow boxes: government nioos control amera and rob taayers blind." we are delighted to have you with us. let's turn first, if i may, to the presiden telling auto
wile we focus on the fiscal cliff negotiations, or more appropately the iasse many our state governments aren't in much better shape. state pensionsystems, unfunded liabilities are now estimated to be in the range of $2.5 trillion to almt $4 trillion. leading is california witmore than $370 billion in unfunded pension liabilities, only 47% are currently fued. a pension debt per household in california of aost $30,000. illinois close behind, $167 billion in unfundedliabilities, 28% funded, and...
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Dec 13, 2012
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i think that just discounting any probability we have a fiscal cliff, if we do, and negotiations brick down, then market i think will be way overpriced for the very difficult economy. we'll see in the first half of next year. lou: we might see it before the end of the year, if it is clear, this may be part of the game, they try to keep in am pickous to whether or not there will be a dial, that would be a slick portion of this negotiation. i do not know what to make of it. i do think this republicans are now incentivized to go over the cliff, and seek sequest raising sequestration in force. it gives republicans want they want, two-for-one spending cuts to tax hikes it gets intresting. >> it is, some of the commentary i've seen, suggestions that the president i talking about more x increases than spending cuts, that is -- >> 2 to 1. >> yeah contrary to the original agreement. lou: well imagine that. president turning things on its head, john silvio thank you. >> thank you. lou: and straightening us out. looking now at "new york times" bestseller list, i thought this week was really, news
i think that just discounting any probability we have a fiscal cliff, if we do, and negotiations brick down, then market i think will be way overpriced for the very difficult economy. we'll see in the first half of next year. lou: we might see it before the end of the year, if it is clear, this may be part of the game, they try to keep in am pickous to whether or not there will be a dial, that would be a slick portion of this negotiation. i do not know what to make of it. i do think this...
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Dec 11, 2012
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maybe this progress or the appearance of some moves the fiscal cliff negotiations. what you see is what house speaker john boehner said he is hopeful a deal will be reached, but also added the g.o.p. wants the white house to provide details on spending cuts. but in the white house wants the same thing from the g.o.p. but either way that is good enough for the market. we took off and we stayed to the upside. so far neither side has been specific on spending cuts so coming up in just one hour o ony 4:00 p.m. eastern, former treasury secretary paul o'neill says he has easiest way to cut spending. fox business exclusive and in this our whole host of leaders in business talking about what specific they want to see. in terms of individual standouts. apple right now about 2% to the upside. some excitement over the iphone 5. how is this for a order in china. brenda marshall says china unicom has more than 300,000 people on the waiting list. nicole petallides with talk about this earlier, but that is enough to boost the stock. sales in china friday, can you imagine the lines
maybe this progress or the appearance of some moves the fiscal cliff negotiations. what you see is what house speaker john boehner said he is hopeful a deal will be reached, but also added the g.o.p. wants the white house to provide details on spending cuts. but in the white house wants the same thing from the g.o.p. but either way that is good enough for the market. we took off and we stayed to the upside. so far neither side has been specific on spending cuts so coming up in just one hour o...
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Dec 10, 2012
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with talks of congress limiting the charitable tax deduction asart of the fiscal cliff negotiation will this year be any different? we have the head of charity navigator with me now. ken, we were talking during the break, there has been, you've seen increasing contributions to charities this year because of that fiscal cliff. what do you see? we've seen some larger charities have seen as much as or 8% increase in donations whereas some of the smaller charities they're still struggling and donations are somewhat level from last year. gerri: you know, people have this on the front of mind. this is traditional time of year you make your contributions and this year more than ever i think people are thinking their dollar will go further because of the possible changes in taxes. what is the one thing you would tell folks this year about chartable giving? what do they need to think about or remember this year? >> they need to remember that even now more than every charities really need their help. there is more of a demand because of unemployment, because of other challenges out there, disaste
with talks of congress limiting the charitable tax deduction asart of the fiscal cliff negotiation will this year be any different? we have the head of charity navigator with me now. ken, we were talking during the break, there has been, you've seen increasing contributions to charities this year because of that fiscal cliff. what do you see? we've seen some larger charities have seen as much as or 8% increase in donations whereas some of the smaller charities they're still struggling and...
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Dec 11, 2012
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melissa: we have more breaking news on the fiscal cliff negotiations now. a senior white house aide confirms the obama administration is offering $1.4 trillion in revenue. you remember the previous offer by the white house was 1.6 trillion in revenue. so a little decline there but, no talk of spending right? we'll bring you more details as we have them. >>> the tragic death of dallas cowboys player is sparking debate how much control employers can imposed over their workers. over the weekend krou boys linebacker jerry brown was killed in a drunk driving accident with fellow teammate josh brent at the wheel. the cowboys are considering installing a device called safe-key in every player's car. it prevents cars from driving if the driver doesn't pass a visual hand-eye coordination test. the cowboys won't be the first organization to have rules. here at "money" we told you about it. ri health which fired 150 workers for not getting flu shots. the question is, are these kinds of rules fair to employees and are they even legal? here to figure this out is attorne
melissa: we have more breaking news on the fiscal cliff negotiations now. a senior white house aide confirms the obama administration is offering $1.4 trillion in revenue. you remember the previous offer by the white house was 1.6 trillion in revenue. so a little decline there but, no talk of spending right? we'll bring you more details as we have them. >>> the tragic death of dallas cowboys player is sparking debate how much control employers can imposed over their workers. over the...
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Dec 10, 2012
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and he's insisted that it become part of the fiscal cliff negotiations. even though it is a political long shot, he has sort of backing from grover norquist on this who is saying it would be okay to enact carbon tax if we were talking about lowering rates elsewhere. stuart: grover says that? carbon tax okay if you lower tax rates on income? sandra: he's firmly against the carbon tax. he said, however, if they were willing to lower rates across the board in many other ways, he would be willing to discuss it. yes, he did make that point. stuart: okay. sandra: however what i don't like about this is al gore using a tragic situation hurricane sandy as an opportunistic -- stuart: he's not the only one. mayor bloomberg and governor cuomo said the same thing. harry reid said this. i take your point, but go. >> we can sit here and debate this. we don't have conclusive evidence either way. but the bottom line is he wants the government to come in and say we're going to harm small businesses here, we're going to impose the taxes, overregulate, do all the things tha
and he's insisted that it become part of the fiscal cliff negotiations. even though it is a political long shot, he has sort of backing from grover norquist on this who is saying it would be okay to enact carbon tax if we were talking about lowering rates elsewhere. stuart: grover says that? carbon tax okay if you lower tax rates on income? sandra: he's firmly against the carbon tax. he said, however, if they were willing to lower rates across the board in many other ways, he would be willing...
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that is how john boehner described the fiscal cliff negotiations. it is not painful until the very end of the year. how this benefits the company. adam: the note dropped 7.7%, the lowest rate since december 2008. that is just a headline. let's get to nicole petallides. the traders are reading a bit into this report. nicole: the first thing they noted when i came in here, a lot of them are talking about the fact that the prior month had been revised lower. the prior month which seemed like they were good news, in fact, were not as good as they seemed. they take these numbers with a grain of salt. the dow, nasdaq and s&p are mixed today. the dow is up about one third of 1%. what is interesting, this will be our third wedding week in a row. they have not been dramatic moves, but last week was pretty slots. jpmorgan and bank of america are some names on the dow that are holding on pretty nicely. the tech heavy nasdaq down one half of 1%. adam: a lot of people watching that jobs number. thank you very much. dennis: according to today's jobs report, the u
that is how john boehner described the fiscal cliff negotiations. it is not painful until the very end of the year. how this benefits the company. adam: the note dropped 7.7%, the lowest rate since december 2008. that is just a headline. let's get to nicole petallides. the traders are reading a bit into this report. nicole: the first thing they noted when i came in here, a lot of them are talking about the fact that the prior month had been revised lower. the prior month which seemed like they...
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we follow the tiny makkah nations of the fiscal cliff negotiations. the markets are up. apple has become a day trader's stock. on "varney and company" we never get into stuff like support levels. that is what is happening with apple right now. it is up $13 all over the place. limited brands paid the three dollar, one time dividend. this is the company -- paying a record penalty of $1.9 billion in a money-laundering case, failing to maintain effective anti money-laundering program. watch out, 90 seconds is all you got to wait for the judge back on a ruling on north carolina. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the hearof yr portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes vestment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. look this isn't my firschristmas. these deals all seem grea
we follow the tiny makkah nations of the fiscal cliff negotiations. the markets are up. apple has become a day trader's stock. on "varney and company" we never get into stuff like support levels. that is what is happening with apple right now. it is up $13 all over the place. limited brands paid the three dollar, one time dividend. this is the company -- paying a record penalty of $1.9 billion in a money-laundering case, failing to maintain effective anti money-laundering program....
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Dec 13, 2012
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>> what's at issue here in the fiscal cliff negotiations is simply the size of government. how big is it going to get? and below that, whether the government is going to lead the economy or the private sector is going to lead the economy for a generation. the second big issue is the safety net, the so-called idea of preserving the safety net. is this going to become the most important thing we do in america, as in europe, or is america about something bigger and better and more interesting than simply preserving the safety net? >> or even defining the safety net. when i think of a safety net, i think of a high wire and think of the net underneath. what's supposed to happen is you fall and it bounces and lifts you back. i feel like we have a fishing net here, where people get caught in it and stay in it forever. that's the difference between the safety net and the fishing net that we're ending up with right now. >> we end up having to work, go to work every day and pay taxes ultimately simply to protect this safety net, rather than create a vibrant growing economy that will
>> what's at issue here in the fiscal cliff negotiations is simply the size of government. how big is it going to get? and below that, whether the government is going to lead the economy or the private sector is going to lead the economy for a generation. the second big issue is the safety net, the so-called idea of preserving the safety net. is this going to become the most important thing we do in america, as in europe, or is america about something bigger and better and more...
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make him responsible for driving us off the fiscal cliff? go to our to be page at facebook facebook.com/loudobbs. we'll have results at the end. chris and steven joining us here next to address th question and more. you know, from our 4,000 television commercials. yep, there i am with flo. hoo-hoo! watch it! [chuckles] anyhoo, 3 million people switched to me last year, saving an average of $475. yeah, i'm kind of a big deal. [sigh] it feels good to help people save... with great discounts like safe driver, multicar, and multipolicy. 731, 732... you want my number, don't you? call 1-800-progressive right now. or visit progressive.com for an extra $50 online savings. thirsty? 'cause i got a six-pack right here. oh, yeah... [voice shaking] you don't even have to wait for your policy to expire to switch. oh, svetlana, that's so good! and, with every policy, you get great service. a-down the hizz-atch. [slurp!] so call me today. you'll be glad you did. cannonbox! [splash!] lou: house minority leader, pelosi going along with timothy geithner in sa
make him responsible for driving us off the fiscal cliff? go to our to be page at facebook facebook.com/loudobbs. we'll have results at the end. chris and steven joining us here next to address th question and more. you know, from our 4,000 television commercials. yep, there i am with flo. hoo-hoo! watch it! [chuckles] anyhoo, 3 million people switched to me last year, saving an average of $475. yeah, i'm kind of a big deal. [sigh] it feels good to help people save... with great discounts like...
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make him responsible for driving us off the fiscal cliff? go to our to be page at facebook facebook.com/loudobbs. we'll have results at the end. chris and steven joining us here next to address that question and more. ♪ ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now through december 31st. [ santa ] ho, ho, ho! [ malennouncer ] lease a 2013 e350 f $579 a month at your local mercedes-benz dealer. lou: house minority leader, pelosi going along with timothy geithner in saying it's just a fact we're going over the cliff if republicans do not agree to meet the president's ultimatum and raise taxes on the top 2%. >> the way i heard it, and the way i think it was not as a threat we'll go over if they don't, it's a prediction. if there's no agreement, then the cliff has to be dealt with. i don't see it if they don't do this, we do that. i saw it as a statement of fact. it's not a threat. it's a prediction. if there's no agreement, we go over the cliff. l
make him responsible for driving us off the fiscal cliff? go to our to be page at facebook facebook.com/loudobbs. we'll have results at the end. chris and steven joining us here next to address that question and more. ♪ ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now through december 31st. [ santa ] ho, ho, ho! [ malennouncer ] lease a 2013 e350 f $579 a month at your local mercedes-benz dealer....
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with negotiations stalled, thous out of town, going over the cliff? let's did douglas holtz-eakin, the former cbo director. doug, the house is gone. they are on vacation. how did the people leave? we have the biggest fiscal crisis of i don't know how long, something to do something about it? it's one thing to have a big recession. it's another thing when the problem is of your own creation, and you turn your back on it. what do you make of this? >> well, it's a very dangerous situation. if we go over the cliff, the taxes go up $39 # -- $395 billion, spending slashed, a plunging economy, a recipe for a recession, something no american needs to hear about now. getting past the fiscal cliff is an imperative. we are having a one-sided conversation. the republicans have put out a plan saying raise revenue from reach people, banseed, spending cuts, and that landed with a thud over in the white house, no response, and the president has yet to put out a balanced plan, and what we got is i want $1.6 trillion in tax revenue. give it to me. gerri: and rid of the
with negotiations stalled, thous out of town, going over the cliff? let's did douglas holtz-eakin, the former cbo director. doug, the house is gone. they are on vacation. how did the people leave? we have the biggest fiscal crisis of i don't know how long, something to do something about it? it's one thing to have a big recession. it's another thing when the problem is of your own creation, and you turn your back on it. what do you make of this? >> well, it's a very dangerous situation....
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Dec 12, 2012
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this is a game of chicken, which i think is designed to go over the fiscal cliff, and pin the blame on the republicans, i understand why the president is doing it for political reasons but i don't think that the republicans have to surrender themselves in this game of chicken. lou: it seems the ultimatum, raise taxes on top 2%, why not let him eat to, it is his decision, go for it, if you don't want a mature, and intelligence, and responsible negotiation, you do not know who you are dealing with, it is called a constitutional body of government. >> it is john's right, this is politics, hard and fast, 1995 all over again, stakes are high and and president wants house back, pin the blame on the republicans make them look like right wing lunatics and grab the chips, they are in a no-win position. lou: we'll be back, marianne has to weigh in and a bunch more as we continue with the a team stay with us. ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the merced
this is a game of chicken, which i think is designed to go over the fiscal cliff, and pin the blame on the republicans, i understand why the president is doing it for political reasons but i don't think that the republicans have to surrender themselves in this game of chicken. lou: it seems the ultimatum, raise taxes on top 2%, why not let him eat to, it is his decision, go for it, if you don't want a mature, and intelligence, and responsible negotiation, you do not know who you are dealing...
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house speaker ohn boehner saying the president has to get serious about the fiscal cliff talks. dennis: rich edson with the latest from there. >> as we have been reporting, democrats and republicans are stuck on these negotiations. a few moments ago house speaker john boehner hit the floor and confirmed just that. >> i want people to know that the president and i met on sunday. it was a nice meeting, cordial but we're still waiting for the white house to identify what spending cuts the president is willing to make as part of a balanced approach to the american people. where are the president spending cuts? the longer the white house slow walk the process, the closer our economy gets to the fiscal cliff. herhere's what we do know. we know the president wants more stimulus spending and an increase in the debt limit without any cuts for reforms. that is not fixing our problem, frankly, it is making it worse. on top of that, the president wants to raise tax rates on many small-business owners. but even if we did exactly what the president wants, we would see red ink for as far as th
house speaker ohn boehner saying the president has to get serious about the fiscal cliff talks. dennis: rich edson with the latest from there. >> as we have been reporting, democrats and republicans are stuck on these negotiations. a few moments ago house speaker john boehner hit the floor and confirmed just that. >> i want people to know that the president and i met on sunday. it was a nice meeting, cordial but we're still waiting for the white house to identify what spending cuts...
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everyone is this availing the economic data and the fiscal cliff. what is more important is how the jobs data affect negotiations on the fiscal left. it is up for jobs report tomorrow it will affect the negotiations and there will be urgency to get something done because everyone concerned about getting jobs. it nicole: everyone is concerned about jobs. back to you. ashley: thank you so much. back in 15 minutes. like a rudderless ship floating in the ocean, the markets description of the day. tracy: poetic. this is not. housing and urban development secretary shaun donovan on hot seat on capitol hill is grilled on the f h a and whether taxpayers foot the bill for multibillion-dollar bailout. gerri willis has this story. we have been waiting for this. gerri: that is will be looking at. off the top of my head. shakespeare is clocking in his grave right now. ashley: quite an image of. gerri: let's talk about fha and how much trouble they are in. they guarantee the mortgage loans. not that they are actually making them but the agency has lost $70 billio
everyone is this availing the economic data and the fiscal cliff. what is more important is how the jobs data affect negotiations on the fiscal left. it is up for jobs report tomorrow it will affect the negotiations and there will be urgency to get something done because everyone concerned about getting jobs. it nicole: everyone is concerned about jobs. back to you. ashley: thank you so much. back in 15 minutes. like a rudderless ship floating in the ocean, the markets description of the day....